The Business Cycle

The Boom and the Bust
The Boom and the Bust

Business cycles are the short-run fluctuations in economic activity that can cause output to be above, or below, the long-run trend. 

The peaks and troughs, or high and low watermarks, divide the business cycle into two distinct phases, expansions and contractions.

Real World Examples

Advice for Students
Anonymous asked:

How did the economic crisis get started?

Dirk Deciphers: Long before there was a full-fledged financial crisis,... more
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